Grand Canyon University Casinos Does the House Always Win Question
PART 1 DiscussionWhy Does the House Always Win?Casinos are big business. If you don't think so, research the top ten casinos in the world and check out their buildings. They are huge. Some people all over the world like to gamble. They like the anticipation of winning, not to mention the financial benefit when they do. The question is, if casinos "give away" so much prize money, how can they stay in business? How can they afford to build and maintain those extravagant entertainment complexes? Does it come down to randomness and probability?So now is your chance! Think about a casino game and look beyond the glimmer of the lights and free drinks! What is behind the gambling? Is it really a "numbers game?"Research & RespondConduct some research on a casino game or other game of chance. If you aren't into that sort of thing, research a state or country lottery or games where you can't control the results. If you need help selecting a game, reach out to your instructor.Summarize the articles that you read and then answer the following questions:Do you think the organization makes a profit even if there is a "payoff" to some lucky customer?Do you believe the game is a worthwhile investment?Would you "put money down" if given a chance? Tip: Copy and paste the questions into your initial post.Your initial post should be three to four paragraphs in length. Use current APA formatting to cite your sources.PART 2We hear and see statistics in the media all the time. Examples include statistics about crime rates, children killed by handguns, pool drownings, people struck by lightning, and causes of car accidents.Locate an article that provides statistics on an issue of your choice. Respond to the following questions in a paper.What is the article trying to say?What are the key statistics cited?Is there enough statistical evidence to support the author’s conclusions?Do you think that the author overstated the issue?How do you think the statistics used in the article impact perception of the issue? Your paper should be two double-spaced pages. Use current APA formatting to cite your sources.PART 3 DISCUSSIONWhy Should Companies Design Based on the Normal Distribution?We have learned that in a unimodal symmetric distribution, about 68% of the values fall within one standard deviation of the mean, and about 95% fall within two standard deviations of the mean. How does that apply to the manufacturing of aircraft or cars? Can you think of examples where a company would use information based on income, height, weight, age, or other demographics to produce products?Select & RespondSelect an industry, company, or product that you think uses (or should use) the normal distribution to aid in the design or marketing of a product. Do some research on the industry, company, or product if needed.Identify the industry, company, or product you selected, and then discuss the following in your initial response.Would using the normal distribution would be advantageous for the company? Why or why not?What are some ethical ramifications of designing products using information based on the normal distribution? Tip: Copy and paste the questions into your initial post.Your initial response should three to four paragraphs in length. Use current APA formatting to cite your sources.We have learned that in a unimodal symmetric distribution, about 68% of the values fall within one standard deviation of the mean, and about 95% fall within two standard deviations of the mean. How does that apply to the manufacturing of aircraft or cars? Can you think of examples where a company would use information based on income, height, weight, age, or other demographics to produce products?Select & RespondSelect an industry, company, or product that you think uses (or should use) the normal distribution to aid in the design or marketing of a product. Do some research on the industry, company, or product if needed.Identify the industry, company, or product you selected, and then discuss the following in your initial response.Would using the normal distribution would be advantageous for the company? Why or why not?What are some ethical ramifications of designing products using information based on the normal distribution? Tip: Copy and paste the questions into your initial post.Your initial response should three to four paragraphs in length. Use current APA formatting to cite your sources.